Thursday, October 29, 2020

KSE-100 recovers 208 pts on buying activity

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) increased by 208 points or ( (+0.56%) closed at 37,129.97 on Tuesday.

Market showed some signs of recovery on Tuesday, particularly in blue chips which touched a low again on Tuesday but saw buying activity, which pulled the index up.

Cement stocks such as LUCK, DGKC showed some resilience and closed well above day’s low. MLCF on the contrary showed major activity on lower circuit and closed at that level.

Analysts at Arif Habib Limited said that the cement sector led the volumes with 40M shares contributed mainly by MLCF (15.6M).

The Index closed at 37,130pts as against 36,922pts showing an increase of 208pts (+0.6% DoD).

Sectors contributing to the performance include Power (+84pts), Banks (+56ts), O&GMCs (+38pts), Pharma (+20pts), E&P (+16pts), Cement (-61pts).

Volumes increased significantly from 106.9mn shares to 160.5mn shares (+50% DoD). Average traded value also increased by 45% to reach US$ 41.7mn as against US$ 28.8mn.

Stocks that contributed significantly to the volumes include UNITYR1, MLCF, FCCL, KEL and WTL, which formed 37% of total volumes.

Stocks that contributed positively include HUBC (+61pts), UBL (+37pts), PSO (+23pts), NBP (+19pts), and ENGRO (+17pts).

Stocks that contributed negatively include LUCK (-25pts), HBL (-16pts), FFC (-13pts), FCCL (-11pts) and DAWH (-11pts).

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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